Kintayl Capital LP Purchases New Position in Penumbra, Inc. $PEN

Key Points

• Kintayl Capital purchased 9,251 Penumbra shares worth approximately $2.9 million, while institutional investors and hedge funds collectively own 88.88% of the company.
• Analyst sentiment remains cautious: Penumbra has a consensus “Hold” rating and an average price target of $367.07, with ratings ranging from “Strong Sell” to “Outperform.”
• Penumbra’s latest quarterly revenue rose 14.9% year over year to $390.05 million, but earnings of $0.88 per share missed estimates of $1.16. The stock opened at $324.61, with a market capitalization of approximately $12.79 billion.

Kintayl Capital LP purchased a new stake in Penumbra, Inc. (NYSE:PEN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,251 shares of the company's stock, valued at approximately $2,921,000. Penumbra accounts for about 1.2% of Kintayl Capital LP's portfolio, making the stock its 26th biggest position.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Penumbra during the 2nd quarter worth approximately $1,356,953,000. Whitebox Advisors LLC bought a new position in Penumbra during the 1st quarter worth $146,125,000. Artisan Partners Limited Partnership increased its position in Penumbra by 165.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company's stock worth $184,715,000 after buying an additional 370,636 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Penumbra during the fourth quarter worth $107,567,000. Finally, Amundi lifted its holdings in shares of Penumbra by 302.9% during the first quarter. Amundi now owns 345,758 shares of the company's stock worth $113,537,000 after buying an additional 259,936 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PEN shares. Zacks Research downgraded shares of Penumbra from a "hold" rating to a "strong sell" rating in a research note on Monday, June 29th. Wall Street Zen upgraded shares of Penumbra to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Penumbra in a report on Friday, July 17th. Citigroup decreased their target price on shares of Penumbra from $374.00 to $350.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Finally, Evercore reaffirmed an "outperform" rating and set a $320.00 target price on shares of Penumbra in a report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $367.07.

Penumbra Stock Performance

Shares of NYSE:PEN opened at $324.61 on Wednesday. Penumbra, Inc. has a 1 year low of $221.26 and a 1 year high of $362.41. The stock has a market capitalization of $12.79 billion, a price-to-earnings ratio of 79.76, a price-to-earnings-growth ratio of 2.01 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. The company's 50 day simple moving average is $320.38 and its 200 day simple moving average is $327.16.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.28). The business had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The firm's revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. As a group, research analysts predict that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra's technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra's portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.

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